Top Finance Stories

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Fri, 9 May 2008 08:35:00 GMT

FTSE falls as banks stay weak

with financial stocks ending the week with losses but sustained strength in the retail sector helping limit the decline.The FTSE 100 started the session 0.4 per cent weaker at 6,244.2, a loss of 27 points. The mid-cap FTSE 250 slipped 0.3 per cent or 26
Fri, 9 May 2008 08:35:00 GMT

Crude holds above $124 after record spike

BANGKOK, Thailand (AP) -- Oil is trading above $124 a barrel in Asia after a record settlement in the previous session. By midmorning Friday in Singapore, light, sweet crude for June delivery had gained 64 cents to $124.33 a barrel in electronic trading
Fri, 9 May 2008 03:44:00 GMT

Investment firms reduce emergency borrowing from Fed

WASHINGTON (AP) - Wall Street investment companies are reducing their borrowing from the Federal Reserve's emergency lending program. The Federal Reserve said in a report Thursday that those firms averaged $16.5 billion in daily borrowing over the past
Thu, 8 May 2008 21:03:00 GMT

Stocks rise despite oil spike

as investors welcomed some better-than-expected April retail sales, but gains were limited by record-high oil prices and weakness in the financial sector. The Dow Jones industrial average (INDU) and the broader Standard & Poor's 500 (SPX) index both
Thu, 8 May 2008 20:37:00 GMT

Stocks recharge in the afternoon

NEW YORK (CNNMoney.com) -- Stocks rallied Thursday afternoon, recharging a morning advance that had petered out at midday, thanks to some better-than-expected April retail sales and a modest retreat of oil prices off the recent highs. The Dow Jones
Thu, 8 May 2008 19:50:00 GMT

Insight: A race against time

So is it all over? That is the $36bn - or $360bn - question perplexing investors right now. Six weeks ago, the financial system was beset with gloom, as it reeled from the credit turmoil.But now the sun is shining, in every sense: equities are rallying,
Thu, 8 May 2008 19:04:00 GMT

Wall Street gains on retail sales

US stocks posted modest gains on Thursday as investors responded cautiously to solid sales figures from Wal-Mart, the world's largest retailer, and encouraging data on retail sales and jobless claims. Leading market indices moved from positive to
Thu, 8 May 2008 17:31:00 GMT

Stocks rise on store sales

bouncing after the previous session's big selloff, as investors welcomed some positive retail sales from Wal-Mart Stores and other chains and a bigger-than-expected drop in weekly jobless claims. The Dow Jones industrial average (INDU) and the broader
Thu, 8 May 2008 13:51:00 GMT

London shares steady after rate call

after the Bank of England left interest rates on hold at 5 per cent, in line with market expectations.The benchmark index was 8 points lower at 6,253.1 in afternoon trade, a loss of 0.1 per cent after it closed at a four-month high at the end of the
Thu, 8 May 2008 13:23:00 GMT

Europe slides as results weigh

European shares slid on Thursday ahead of an interest rate decision by the European Central Bank as rising oil prices stoked inflations fears and earnings reports weighed. In morning trade, the benchmark FTSE Eurofirst 300 eased 0.4 per cent to 1,356.30,
Thu, 8 May 2008 09:46:00 GMT

Supply worries push oil near $124

Global demand for oil has been fuelled by China and IndiaWorld oil prices have reached a new peak near $124 a barrel. The rises came despite a US government report on Wednesday showing a surprise increase in US crude and petrol stocks. US sweet, light
Thu, 8 May 2008 09:32:00 GMT

FTSE lower ahead of rate decision

with financial stocks and miners hit by profit taking after the FTSE 100 closed at a four-month high in the previous session. The benchmark index lost 35 points to 6,226.6 in early trade, a loss of 0.5 per cent. Traders were waiting for the Bank of
Thu, 8 May 2008 08:47:00 GMT

Financial stocks weigh on Asian markets

Financial companies led Asia-Pacific stock markets lower on Thursday as worries about further subprime losses in the US emerged and traders reacted to a 1.8 per cent fall in the S&P 500 overnight in New YorkThe MSCI Asia Pacific Index had slipped 0.7
Thu, 8 May 2008 04:39:00 GMT

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Thu, 8 May 2008 04:03:00 GMT

Oil Giants to Settle Water Suit

Some of the nations largest oil companies have agreed to pay about $423 million in cash to settle a lawsuit brought by more than a hundred public water providers, claiming water contamination from a popular gasoline additive. The terms of the settlement
Thu, 8 May 2008 02:41:00 GMT

Oil Companies Settle MTBE Pollution Suit

A dozen oil companies agreed to pay $423 million in cash plus clean-up costs to settle litigation over groundwater contamination from the gasoline additive, MTBE, lawyers representing public water utilities and public agencies in 17 states, said
Thu, 8 May 2008 00:30:00 GMT

Record crude pushes Treasury prices up

NEW YORK (AP) -- Treasury prices advanced Wednesday as investors unnerved by crude oil's record-breaking run pulled money out of the stock market and transferred it to the safety of government debt. Investors began to fear the impact of inflation on
Wed, 7 May 2008 23:27:00 GMT

Stocks Take a Fall Late in the Day

A late Wednesday afternoon tumble sent the stock markets to their worst session in nearly a month, as a swirl of unsettling financial and economic news unnerved investors who had enjoyed several weeks of relative calm after the winter?s tumult. The Dow
Wed, 7 May 2008 21:20:00 GMT

Insight: Banking inadequacies are poorly addressed

Just as the world seemed to be tiring of the saga of Basel II, the recent turmoil in credit markets has thrust the prudential regime for banks firmly back into the spotlight. Unfortunately for investors, the new regulatory framework - even after the
Wed, 7 May 2008 17:42:00 GMT

Overview: Investors await rate decisions

Global equity markets lacked a clear direction on Wednesday as inflation-friendly US productivity data were offset by oil prices hitting a fresh record high and hawkish interest rate comments by a Federal Reserve official.'Financial markets remain in a
Wed, 7 May 2008 17:39:00 GMT

Poor housing data weigh on Wall St

Wall Street stocks were mixed on Wednesday morning, taking their cues from an uneven batch of earnings reports and news, which included better than expected productivity data, a dip in commodity prices which hit related stocks and poor data from the
Wed, 7 May 2008 16:04:00 GMT

Wall Street wobbles on oil

NEW YORK (CNNMoney.com) -- Stocks struggled Wednesday morning as investors eyed quarterly results from Cisco and Disney, mixed economic news and fluctuating oil prices. The Dow Jones industrial average (INDU) lost 0.2% nearly two hours into the session.
Wed, 7 May 2008 16:01:00 GMT

Stocks struggle on Cisco

NEW YORK (CNNMoney.com) -- Stocks were mixed Wednesday morning as investors weighed Cisco Systems' upbeat earnings and mild forecast, strong earnings from Walt Disney, and a surprisingly strong reading on labor productivity. The Dow Jones industrial
Wed, 7 May 2008 13:52:00 GMT

Pound plummets to 10-week low

The pound dropped to a 10-week low against the dollar on Wednesday as plummeting consumer confidence and a surprise fall in UK industrial production heightened speculation that the Bank of England would cut interest rates. The Nationwide's measure of
Wed, 7 May 2008 11:16:00 GMT

Investors on hold early

NEW YORK (CNNMoney.com) -- U.S. stock futures declined early Wednesday as cautious outlook from tech bellwether Cisco Systems was balanced by good results from Walt Disney. About three hours before the market open, S&P and Nasdaq futures were slightly
Wed, 7 May 2008 11:06:00 GMT

Is your money fund safe?

(Fortune Magazine) -- Money market mutual funds are known for being both liquid and solid. Liquid because you can get your money out of them at any time; solid because they maintain a steady value of $1 per share. And they're popular because they tend to
Wed, 7 May 2008 10:55:00 GMT

Stocks poised for losses

LONDON (CNNMoney.com) -- U.S. stock futures declined early Wednesday after the previous session's rally as investors reacted to a cautious outlook from tech giant Cisco Systems. At 5:17 a.m. ET, S&P futures were lower and pointing to a negative start for
Wed, 7 May 2008 09:50:00 GMT

Oil price 'may hit $200 a barrel'

Global demand for oil has been fuelled by China and IndiaThe price of crude oil could soar to $200 a barrel in as little as six months, as supply continues to struggle to meet demand, a report has warned. With benchmark US light crude passing the $122
Wed, 7 May 2008 09:50:00 GMT

Japanese shares gain on weaker yen

with the Japanese market among the few showing much upward momentum, lifted by Wall Street's gains overnight and exporters riding a softening of the yen.The Nikkei 225 gained 0.9 per cent to a four-month high of 14,179.49. The broader Topix was up 1.6
Wed, 7 May 2008 05:27:00 GMT

Treasurys down on stock rally

with investors pulling money out of government bonds to participate in a moderate rally in stocks. Demand for the safety of government debt waned as investors grew confident that the economy and corporate earnings are heading toward a broad recovery.
Wed, 7 May 2008 00:33:00 GMT